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Will ask portfolio firms to hold Indian accounts: Blume Ventures
short by Ananya Goyal / on Tuesday, 21 March, 2023
Indian startup-backer Blume Ventures said it will demand portfolio companies headquartered abroad to hold accounts in well-capitalised Indian banks. As per the VC firm's partner Ashish Fafadia, the Silicon Valley Bank collapse left it "scrambling" to raise funds for the impacted entities. Blume Ventures has also directed startups to maintain multiple bank accounts to park their capital, he added.
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